harsimran.ca.10
Short

Nifty Outlook and Trade Setup for October Expiry

NSE:NIFTY   Nifty 50 Index
On 8th October it was published that Nifty may give a relief rally upto 10750 (Refer to the link below). The Index opened gap up on wednesday 17th Oct and made an high of 10710, just short of 40 points of our pullback target of 10750. Bears tookover the dalal street again after 6 trading sessions to give a closing at 10453 i.e. -257 points from highs.

The Pullback looks complete and now again the support of 10200 should get tested. However Index will have to fill the important bullish gap (10322 to 10251) which was made on 12th October opening. A close below the demand zone will confirm the levels of 10000/9950.

Trade Setup
Short Nifty at Cmp of 10453

Target / Important Support Levels (Trail your SL at every target level)
10320
10290
10250
10200
10140
10050
9950


Stop Loss
10565
Trade active: Gap Filled at 10250 👍

First 3 Targets Done
You can expect nifty to open below 10300 tomorrow
Reply
If nifty breakes 10360 then again pain area start...and as i feel 2019 is downd trends....expecting 9999 and 9200. Lets see...🤓😉😆
Reply
harsimran.ca.10 priyeshkparmar
@priyeshkparmar, I feel the real pain will be break of 9950 which was the low of March 2018.

For testing 9950 a close below 10200 is required which has not happened till now. Hope we get it soon.

And Yes, I agree the bear phase has started from September 2018. 👍
Reply
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